Developing a brand positioning strategy is how you make your business stand out.
This tool is part of your unique selling proposition and helps the public remember your product or service and become loyal customers.
The truth is that developing an effective brand positioning strategy is essential to the success of your business. This guide tells you how to do it step by step.
What Is Brand Positioning?
Brand positioning determines your brand’s place in the marketplace contrasting your company from your rivals.
Its foundation is your unique selling proposition (USP), which makes your product or service stand out from the competition.
Historically, companies did brand positioning through a marketing strategy that communicated their USP to the market. But in today’s digital world, positioning is more complex.
It’s not just about what you say in your marketing campaigns but also about what clients say about you online.
That’s why it’s crucial to have a clear and well-defined unique selling proposition before you start working on brand positioning strategies
Once you know what makes your product or service different and better, you can start thinking about positioning your brand in the market.
Brand positioning vs. brand identity
Here are some of the most striking differences between brand positioning and brand identity:
|What is it?
||A strategy to make your brand stand out.
||How do you want clients to perceive your brand?
|How is it used?
||To guide campaigns and initiatives.
||As a foundation for all branding decisions.
|What’s the focus?
||Your unique selling proposition: what makes your product or service different.
||Your values, mission, and target audience: how you want people to perceive your brand.
|Who defines it?
||Marketing team with input from other teams.
|When is it created?
||When developing marketing campaigns.
||During the early stages of starting a company.
As you can see, brand positioning and brand identity are two very different concepts.
Brand positioning is all about making your brand stand out in the market, while brand identity is about how you want your brand to be perceived.
You can use positioning and identity to guide your marketing plan and initiatives.
Ways to finance your brand positioning strategy
How To Build a Brand Positioning Campaign
When creating a brand positioning for a marketplace, you should take key steps to ensure success.
Know what makes you different
Before you can start working on your brand positioning, you need to know what makes your product or service different from your competitors. This is your unique selling proposition (USP).
Your USP represents a strong understanding of your product or service and your target market.
Once you know what sets your product or service apart, you can consider brand positioning.
Analyze your competitors
To position your brand in the market, you first need to understand the position of your competitors and your current brand positioning.
This will give you a good idea of where there is room for you in the market and how to best position your brand to fill that space.
When analyzing your competitors, there are a few key things to keep in mind:
- Their USP
- Their target market
- How they communicate their USP to the market
- What kind of positioning strategy do they have
When developing your own brand positioning strategy, these are critical factors to consider. By understanding your competitor’s strategies, you can better build your own.
Get to know the types of marketplace platforms available
Another step is to start thinking about how you want to reach your target market.
There are a few different marketplace platforms that you can use to sell your products or services.
Online marketplaces, social media, and apps
Online marketplaces are websites where people can buy and sell products and services. Examples of online marketplaces include Amazon, eBay, and Etsy.
You can also use social media platforms like Facebook and Twitter as marketplace platforms.
People use these sites to buy and sell products and services, similar to online marketplaces.
Also, don’t forget to consider mobile apps. There are many to buy and sell products and services.
Physical marketplaces are places where people can buy and sell products and services.
Examples of physical marketplaces include flea markets, farmers’ markets, and garage sales.
Classified ads are another type of marketplace platform. These are listings for products or services that people can buy and sell.
Classified ads can be found online or in print publications.
B2B marketplaces are websites where businesses can buy and sell products and services to other companies.
These sites are used by businesses of all sizes, from small to large corporations.
Crowdfunding platforms are websites where people can raise money for projects or ventures by soliciting donations from the general public.
These platforms can fund various projects, from personal causes to business ventures.
Online auctions are another type of marketplace platform.
These are online marketplaces where people can buy and sell products and services through an auction format.
Define the marketplace where you will develop the campaign
The marketplace you choose will depend on the product or service and your target audience.
Consider all of the different platforms to sell stuff online
, and choose the one that will reach your target market most effectively.
Some products or services may be better suited to specific marketplace platforms than others.
- if you’re selling physical products, an online marketplace like Amazon may be a good option
- if you’re selling services, a local listing site like Yelp may be a better choice
Know the values of your business
The next step is to define the values of your business. These are the principles that guide your business decisions and help you to stay true to your brand.
Everything you do should reflect your values, from how you treat your employees to interacting with your customers.
Some examples of business values include:
- Customer service
Establish your brand positioning statement
Once you have defined the core values of your business, you’re ready to establish a strong brand positioning statement.
This sentence or short paragraph defines your brand and what it stands for.
Your brand positioning statement should be based on your values and should be something that you can use to guide all of your marketing decisions.
It sums up your brand position and should include your unique selling proposition and target market.
“Our product is the best solution for X problem because it is Y. Our target market is people looking for a solution to Z.”
Create a brand positioning map
Once you have your brand positioning statement, you can create a brand positioning map. This is a visual representation of how your brand compares to your competitors.
Mapping is extremely vital to the success of your brand because it allows you to see exactly where you stand about others.
Creating a brand positioning map is also helpful when communicating your brand strategy to others.
Main Aspects to Build a Brand Positioning Campaign
Here are the main aspects of a brand positioning framework:
Your brand’s name
can say a lot about what it represents, so it is essential to choose one that fits your desired image and position in the marketplace.
Your brand name should be unique and memorable, helping to make your company stand out from the competition. It should also be relevant to your target audience and reflect the values of your business.
If you’re unsure what kind of impression you want your brand to make, consider surveying potential customers or consulting with a marketing expert.
A brand promise is a specific statement that communicates what a brand will do or provide for its customers.
It articulates the unique value proposition that a brand offers and sets expectations for what customers can expect from the brand.
The promise should be relevant to the target audience, meaningful in providing value, and differentiated from competing brands.
Your brand personality is the human characteristics you want your brand to be known for.
It’s important to make sure that the brand’s personality is in line with the values and goals of the company.
Some example adjectives that you could use to describe a brand’s personality include exciting, innovative, trustworthy, reliable, etc.
Choose adjectives that will resonate with your target audience, make them feel positive about your brand, and reach customer loyalty.
A company’s target customer is the group of people that the company wants to do business with.
Demographic (age, gender, occupation, income, etc.), psychographics (lifestyle, values, interests), and geographic (location) data often determine the type of target customer.
When developing a brand positioning strategy, a company needs to know its target customer to create messaging and marketing efforts that resonate with that group of people.
Your competitors are other businesses that offer similar products or services to yours. It’s important to research your competitors so you can find a way to differentiate your brand in the market.
Also, there are instances when your competitors are well-funded with lucrative asset sources. Applying for a microloan
may help you get started if you don’t have enough capital.
A Positioning Statement is basically a short, declarative statement that articulates what makes your brand unique and differentiated from others in your industry.
It’s an essential element of any strong branding strategy and can be incredibly useful in helping you to crystallize your brand’s identity, purpose, and personality.
Your positioning statement should be:
- Unique: It should differentiate your company from its competitors.
- Focused: It should focus on one or two key benefits that make your company stand out from the competition.
- Memorable: It should be easy to remember and communicate what sets your company apart.
Advantages of brand positioning
There are many advantages to having a solid brand positioning strategy:
It helps to increase brand awareness
Businesses can more effectively communicate who they are and what they stand for through brand positioning, making it easier for customers to identify and connect with their brand.
This increased brand awareness helps businesses attract new customers, boost sales, and increase revenue.
It enhances brand perception among consumers
By establishing a strong brand position in the marketplace, businesses can improve how customers perceive their brand.
This improved brand perception helps you increase sales and market share and improve customer loyalty and advocacy.
It can help you to streamline marketing efforts
When businesses take the time to define their brand positioning carefully, they can create much more targeted and effective marketing campaigns.
This allows them to focus on specific aspects of their brand that are most important to their target consumers
and ultimately results in better ROI for their marketing budgets.
It helps businesses to understand their competition better
By understanding how your brand is doing in the marketplace, your business can more easily identify opportunities to differentiate itself from its competitors.
This can help them create unique selling points for their products and services, giving them a competitive advantage in the marketplace.
Get funding from investors
If you’re looking to attract investment, brand positioning can be a major advantage. Investors are often drawn to well-positioned brands because they offer a higher potential return on investment.
So if you’re looking to grow your business, this can be a great way to attract the funding you need to make that happen.
Business loan requirements to make strategic brand positioning
Types of Brand Positioning
There are several different types of brand positioning that you can use depending on your business goals.
Product positioning is the strategy a company uses to place its product in the minds of consumers.
It involves creating a unique position for a product about competing products based on what the company believes its customers want or need.
There are three main types of product positioning: functional, emotional, and rational.
- Functional positioning focuses on the practical benefits of a product, such as its features and how it can make life easier.
- Emotional positioning taps into people’s feelings and attempts to create an association between the product and positive emotions like happiness, love, or excitement.
- Rational positioning stresses the logical reasons why someone should buy a particular product, such as its price or how it compares to other products on the market.
The price positioning is a type of brand positioning that involves setting a price point for your product or service that is competitive in the market.
The goal of price positioning is to balance being affordable and making a profit.
When developing a pricing strategy, you’ll need to consider your target market, competitors’ pricing, and your own costs. Keep in mind that you may need to adjust your prices over time as the market changes.
Place positioning involves focusing on the physical location of the product or service.
You can do this by placing the product in a particular store or targeting a specific geographic area.
Place positioning can effectively make a product stand out from the competition and attract customers seeking convenience or accessibility.
Place positioning is a type of brand positioning that involves focusing on the physical location of the product or service.
You can do this in various ways, such as placing the product in a particular store or targeting a specific geographic area.
The positioning of people is when a company manages to position itself as a space of good and honest people who care about their customers. This type of branding can be very effective because it builds trust and loyalty with customers.
Many companies use celebrities or spokespeople to promote their people positioning, as it helps customers feel like they’re in a genuine relationship with the company.
Additionally, companies often tout their charitable work or community involvement to show that they really do care about their customers.
Examples of Successful Brand Positioning
Nike – “Just Do It”
Nike’s brand positioning is all about inspiration and motivation. Their famous “Just Do It” slogan encourages people to get up and take action.
- Why It Works: Nike’s positioning resonates with consumers because it taps into people’s desire for self-improvement and success. It encourages them to take control of their lives and be the best versions of themselves.
- How to Replicate Nike’s Success: If you want to create a similarly motivating and inspirational strategy, consider your customers’ biggest aspirations. What do they want to achieve? What can you say to push them in the right direction? Once you know the answers, craft a message that will inspire them to take action and go after their goals.
Coca-Cola – “The Real Thing”
Coca-Cola’s famous slogan, “The Real Thing,” stresses that their product is the real deal, not a knockoff. This brand positioning fosters a sense of authenticity as part of their brand image.
- Why It Works: In a world full of imitations, Coca-Cola’s slogan reassures consumers that they get the real thing when choosing their product. It also helps reassure consumers that they are also the real thing, that they’re authentic for buying authentic products. This brand positioning has helped Coke become one of the most iconic and well-loved brands globally.
- How to Replicate Coca-Cola’s Success: If you want to create a similarly authentic branding, focus on what makes your product or service unique. What sets it apart from its competitors? Why is it the best choice for consumers? Answering these questions will help you craft a campaign that will resonate with consumers.
Walmart – “Everyday Low Prices”
Walmart’s brand positioning is all about value.
Their slogan, “Everyday Low Prices,” emphasizes that they offer low prices every day, not just on special occasions.
- Why It Works: Walmart’s brand positioning resonates with consumers because it reflects their desire for value. It let’s them know what they’re getting even before they set foot in the store. People want to get the most bang for their buck and save money wherever possible, which Walmart offers them.
- How to Replicate Walmart’s Success: If you want to create a similarly value-driven, focus on what your target customers care about most and what you can give them. What do they look for in a product or service? How can you explain your USP in a few words? Once you know the answers, craft a positioning that emphasizes why your product or service is the best choice.
Apple – “Think Different”
Innovation is an important part of Apple’s brand image. Their famous “Think Different” slogan makes sense that the company thinks outside the box and develops new ideas.
- Why It Works: Apple’s slogan works because it speaks to people’s desire for innovation and creativity. Apple’s message encourages people to think differently and stand out from the crowd in a sea of conformity.
- How to Replicate Apple’s Success: If you want to create a similarly innovative brand positioning, focus on what makes your product stand out from the competition. What unique features does it offer? Why is it the best choice for consumers? Answering these questions will help you craft a positioning that will speak out to the crowd.
Virgin – “Different is Good”
Virgin’s well-known slogan, “Different is Good,” encourages people to embrace their uniqueness and use it. It signifies that Virgin is different from other brands in a positive way.
- Why It Works: Virgin’s brand positioning resonates because it taps into people’s desire for individuality (similar to Coke’s authenticity). In an increasingly homogenous world, they want to stand out from the crowd and carve out their own path, which the Virgin encourages them to do.
- How to Replicate Virgin’s Success: To create a similarly differentiating brand positioning, focus on how your product or service makes people feel. What unique benefit does it offer? Why is it the best choice for consumers? Answering these questions will help you craft a brand positioning that will make your target market sit up and notice.
How to Measure a Brand Positioning Campaign
After you’ve launched your brand positioning strategy, you’ll need to measure its success.
As with any business project, it’s essential to continuously evaluate your brand position and make adjustments.
Things change over time, so it’s important to keep your finger on the pulse of the market and your competitors.
There are a few different metrics you can use to do this, including:
- Website traffic
- Social media engagement
- Sales figures
- Customer satisfaction surveys
Each of these metrics will give you a different perspective on how your campaign is performing.
You should track all of them to get a well-rounded view of your brand’s progress.
It’s also important to keep in mind that this process is ongoing. You should regularly monitor your brand’s position in the market and adjust your campaign to ensure that it remains relevant and accurate.
It will need to change as the market, product, and target audience evolve.
Don’t be afraid to make changes to keep your strategy current.
Where to find the financing your strategy needs?
Tips to Improve Your Business Positioning Campaign
If you want to improve your brand positioning strategy, you can do a few things.
Focus on your goals
First, you can create a more targeted campaign. This means defining your target audience more precisely and crafting your message to appeal to them.
Remember that it’s important to stay true to your brand and voice throughout your campaign.
Make sure all of your content is consistent with what you stand for and the image you want to project.
Also, test and measure the results of your campaign so that you can track its effectiveness and make necessary adjustments.
You can also try using different marketing channels to reach your target audience.
In addition to traditional channels, like television and print, many digital channels can be effective, such as:
- social media
- email marketing
- pay-per-click advertising
Diversifying your business positioning campaign means expanding your focus and reaching out to new groups of people. It means identifying new markets and opportunities and capitalizing on them.
Finally, you can ensure that your entire team is on board with your brand positioning strategy.
Everyone from your salespeople to your customer service representatives should know and be able to articulate your brand’s position in the market.
To do that, you need to carefully and clearly communicate your campaign, strategy, and goals to everyone in the business.
Are you ready to create a winning brand positioning strategy?
Brand positioning is essential for any business, whether you’re just starting or you’ve been in the game for a while.
It can be tough to create and maintain a strong brand positioning strategy, but it’s worth it.
If you need capital to create your campaign, Camino Financial offers business loans
that will help your company grow.
We want to see businesses succeed, and we know that having a well-positioned brand is one of the keys to success.
Apply for a business loan, and let us help you take your business to the next level.